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Correlational findings

Study Guven (2009b): study DE 1984

Public
18+ aged, households' heads, Germany, 1984-2006
Survey name
DE-SOEP
Sample
Respondents
N = 21000
Non Response
Assessment
Questionnaire: Paper & Pencil Interview (PAPI)

Correlate

Authors's Label
Investment behavior
Our Classification
Operationalization
Self-report on multiple questions:
A: "Do you own stocks or bonds?"
B: "Do you have savings accounts?"
C: "Do you have operating assets?"
D: "Do you have life insurance?"

Rated as:
1: Yes
0: No

Observed Relation with Happiness

Happiness Measure Statistics Elaboration / Remarks O-SLW-c-sq-n-11-d b = +.95 STANDARD OLS

Owning stocks or bonds O-SLW-c-sq-n-11-d b = +.03 Owning saving accounts O-SLW-c-sq-n-11-d b = -.11 Owning operating assets O-SLW-c-sq-n-11-d b = +.08 Owning private life insurance contracts O-SLW-c-sq-n-11-d b = -11 INSTRUMENTAL VARIABLE REGRESSION

Owning stocks and bonds O-SLW-c-sq-n-11-d b = +.38 Owning saving accounts O-SLW-c-sq-n-11-d b = +10 Owning operating assets O-SLW-c-sq-n-11-d b = +.69 Owning private life insurance contracts

Instrument for happiness:
- regional yearly cloud cover average

Bs controlled for:
- Personal characteristics
  - labor force status
  - marital status
  - health status
  - income
  - number of children
  - household size
  - age
  - race
- state
- year fixed effects